Equipped Auto Repair
For Sale
$399,900
2617 Elmwood Avenue, Buffalo, NY 14217
Operating automotive facility with service equipment, customer parking, and included business licenses.
Property Size1,232 SF
Days on Market228
Property Features for 2617 Elmwood Avenue
General Information
Standard status
Active
Size
1,232 SF
Total Parking Spaces
25
Property subtype
Commercial
Zoning
4, Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$14,183
Building Details
Building Size
1,232 SF
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty WNY
(716) 495-5961
Listed By:
Walaa Kadhum · License #10401363055
(716) 495-5961
Source:
Dealrealtyonline
Added: Jan 15
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
This automotive property includes an operating auto repair and vehicle sales business, with tools, machinery, and shop equipment included in the sale. The operation also includes an NYS auto repair license, dealer license, dealer plates, and NYS inspection station approval. Approximately 24 parking spaces support customer vehicles, inventory, and service operations. The facility was built in 1972 and is identified as Commercial zoning, with frontage on Elmwood Avenue.
The sale combines the established business, operating infrastructure, equipment, and regulatory approvals in one transaction. Existing capabilities support automotive repair, vehicle inspections, and used car sales, subject to applicable licensing and regulatory requirements.
The sale combines the established business, operating infrastructure, equipment, and regulatory approvals in one transaction. Existing capabilities support automotive repair, vehicle inspections, and used car sales, subject to applicable licensing and regulatory requirements.
Key Highlights
- Operating auto repair and vehicle sales business included in the sale
- NYS auto repair license, dealer license, dealer plates, and inspection station approval included
- All shop tools, equipment, and machinery convey with the business
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,000
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,000
$240.0K
Cap Rate 7%
$171,429
$171.4K
Cap Rate 9%
$133,333
$133.3K
Market Conditions
NOI Build-Up for 1,232 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.2K $15.60/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$17.1K $13.92/SF
− OpEx
−$5.1K −$4.17/SF
NOI
$12.0K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,000
Cap Rate 7%
$171,429
Cap Rate 9%
$133,333
Alternative Uses
Best Use
Retail
$171.4K
$150.0K – $200.0K
NOI $12,000 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$123.3K
$107.9K – $143.8K
NOI $8,629 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$296.3K
$259.2K – $345.7K
NOI $20,739 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
5,696 visits/mo
0.4 miles
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Operating automotive facility with service equipment, customer parking, and included business licenses.
Where is this auto shop located?
The property is located at 2617 Elmwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Operating auto repair and vehicle sales business included in the sale; NYS auto repair license, dealer license, dealer plates, and inspection station approval included; All shop tools, equipment, and machinery convey with the business
